London, 20 February 2012: Continuing growth in the number of people struggling to obtain cover is feeding strong demand from brokers for the home insurance products provided by Plum Underwriting Limited. As a result Plum sales have more than doubled over the past twelve months to a five year high.
Demand for both Plum Flex – which caters for risks involving non-standard construction, flood risk, subsidence, adverse claims histories, previous convictions, bankruptcy, non-standard occupations and irregular occupancy – and Plum HomeWorks, Plum’s specialist cover for properties undergoing substantial alteration or renovation have trebled.
Commenting on the results, Plum Managing Director David Whitaker said: “With mainstream insurers and the aggregators focusing on less complex ‘standard’ risks, and tightening their risk acceptance criteria and underwriting parameters, they are excluding an ever increasing number of homeowners.
“Our success is built on our ability to help brokers meet the needs of what is essentially a growing ‘insurance underclass’. We do this by providing a highly individual, accessible service underpinned by a real commitment to delivering a ‘traditional’ approach to underwriting and top-quality service and support.
“By focusing more on the non-standard marketplace brokers have a real opportunity to win new business, from clients who will really value the advice and support which an experienced broker can provide. At the same time we recognise that the general economic outlook means that 2012 is going to be a particularly challenging year, so we will be redoubling our efforts to help them to provide the products service and cover their clients require.” In an independent nationwide service survey last week, brokers voted Plum the best personal lines insurer for underwriting flexibility.